Bundamedik Subsidiary Will Take Over Majority of Shares in Biotech Startup Asa Ren

Bundamedik Healthcare System's subsidiary, PT DiagnosLab Utama Tbk (IDX: DGNS) plans to take over 97,97% of the share ownership of Asa Ren Pte Ltd, owner of PT Asa Ren Global Nusantara, through additional capital without pre-emptive rights (PMHMETD). I).

Based on IDX information disclosure, this share takeover will be carried out in the form of an inbreng with the deposit of 612.900 Ordinary Shares shares and 2.921.176 Preferred Shares shares or representing 88,17% owned by Asa Ren Shareholders.

Diagnos will carry out PMHMETD I by issuing 921.000.000 new shares. From this action, the company will receive $24,1 million or the equivalent of IDR 357,89 billion. The exercise price is IDR 505 per new share.

Currently, Diagnos share ownership is controlled by PT Bundamedik Tbk (IDX: BMHS) with 41,2% shares and PT Bunda Investama Indonesia with 38,8%. Through the transfer of HMETD from these two main shareholders, Diagnos will receive 88,17% of Asa Ren's shares.

"The company will acquire 3.534.076 shares or the equivalent of 88,17% of Asa Ren shares from Asa Ren Shareholders with a transaction value of $21,69 million, in which Asa Ren shares will be calculated as a capital contribution by the company in a form other than Money (input) in connection with PMDHMETD Plan I," said the management statement,

For your information, Diagnos is a company that owns a network of clinical laboratories, laboratories homecare, to the genomics laboratory. In relation to Asa Ren, Diagnos has been involved several times in funding the DNA data development startup.

In January 2023, Diagnos invested in Asa Ren by investing in series A shares of 58,65% worth $300 thousand or equivalent to IDR 4,5 billion. Besides Diagnos, several other investors are involved Asa Ren funding are Kejora Capital, Northstar Ventures, and Marcy Venture Partners.

Asa Ren claims to be the first DNA data development startup in Indonesia. Founded in 2016, Asa Ren utilizes AI technology to provide analytical reports from DNA tests, ranging from health, ancestry, to 360 Report.

Bundamedik genomic development

Bundamedik is known to be aggressively encouraging the development of health innovations using biotechnology and genomic approaches. Bundamedik Main Commissioner Dr. Ivan Rizal Sini previously stated that the speed of diagnosis needs to be improved considering that the health industry is a long service chain.

This chain includes educational aspects, screening methods, early detection, curative treatment, and palliative treatment. Meanwhile, most hospitals in Indonesia focus more on curative and palliative treatment. Therefore, biotechnology and genomic products are considered capable of providing personalized health services to patients.

"We cannot tell what's actually their needs. People don't know what it actually takes to make it new requests. Now, the gap is just too big for us to decide [How far we have gone in resolving this issue], that's just up to here. "There are many diseases, we haven't talked about education, the service process in hospitals, and the speed of diagnosis that need to be improved," said Dr. Ivan DailySocial.id some time ago.

Biotechnology startups have been developing in Indonesia in recent years, followed by high interest from relevant stakeholders to invest in this new field.

In its development, Bundamedik was involved in funding and developing biotechnology startups Asa Ren and Nalagenetics. Meanwhile, Moosa Genetics is a genomics startup for animals that was founded (co-founded) by Dr. Ivan Rizal Here.

Asa Ren not only offers products to consumers, but also develops a bioinformatics platform that combines health data and DNA data comprehensively through collaboration with an ecosystem of medical professionals. Temporary, Nalagenetics focus on providing more personalized recommendations for medicine through DNA testing.

Currently, Bundamedik is focusing on integration channeling platform OneBunda to other ecosystems, including hospital and laboratory networks. This integration allows Bundamedik to open access to one pintu to patients who have customer journey different.